OKX delisting sparks privacy coin price slump

Entrepreneurs to Discuss Blockchain Investment Opportunities at Korea Investment Week 2023Entrepreneurs and business leaders will convene at the Korea Exchange (KRX) PR Hall to delve into investment opportunities associated with blockchain projects and security tokens from September 14 to 15. The agenda for the first day centers around blockchain, while the second day is dedicated to security tokens. These events are part of Korea Investment Week 2023, hosted by the Korea Economic Daily and organized by the Korea Exchange, the nation’s only securities exchange operator, and KB Securities.Photo by SC Jang on UnsplashExploring blockchain investmentThe first day’s blockchain investment forum will host a lineup of distinguished speakers, including Kim Yong-beom, the CEO of Hashed Open Research; Lee Tae-yong, Chief Global Strategy Officer of Wavebridge; and Ju Ki-young, CEO of Cryptoquant.CEO Kim will explore virtual asset opportunities in South Korea, particularly in light of the market trend shifting from North America to Asia. Lee will provide an overview of the global landscape of exchange-traded funds (ETFs) and exchange-traded products (ETPs) related to virtual assets and assess the likelihood of the US approving Bitcoin spot ETFs. Meanwhile, Ju’s analysis of blockchain data will offer insights into the fundamentals and risks associated with virtual assets.Security token insightsOn the second day, the security token investment conference will feature esteemed professionals, such as Ahn Il-chan, Head of Digital Business Division at the Korea Exchange; Lee Han-jin, an attorney specializing in capital markets at law firm Kim and Chang; and Ryu Ji-hae, Managing Director of Digital Asset Task Force at Mirae Asset Securities.Ahn will discuss strategies for establishing a security token market within the Korea Exchange. Lee will offer suggestions for developing the Korean security token market and safeguarding investors. Ryu will address the role of securities firms in driving the development of the security token market.These events are expected to capture the interest of both institutional and retail investors, providing valuable insights into the burgeoning industry.

Thailand’s Ministry of Finance has announced a new tax measure that will mean tax exemptions on crypto trading gains over a five-year period in an effort to promote the Southeast Asian country as a global crypto hub. According to a statement published to a government website publicizing the introduction of the measure, Deputy Finance Minister Julapun Amornvivat said that the tax break will apply to market participants in Thailand who trade digital assets through exchanges, brokers and dealers licensed under the Digital Assets Business B.E. 2561 legislation, from Jan. 1, 2025 through Dec. 31, 2029. The deputy minister believes that the new measure will put Thailand on the right footing in developing the crypto sector, while that sectoral development will be monitored all the while by the Thai regulator, the Securities and Exchange Commission (SEC).  Amornvivat is conscious of a need to balance nurturing the crypto sector with full compliance in terms of anti-money laundering (AML) policies, in line with international practice as set out by the Financial Action Task Force (FATF).Photo by Kaboompics.com on PexelsGreater transparencyThe deputy minister also confirmed upcoming changes that would lead to greater transparency. He stated:”The Revenue Department is in the process of implementing the OECD’s Crypto-Asset Reporting Framework (CARF), which is an exchange of digital asset data with countries around the world, which will make digital asset transactions more transparent.” Taking to X, Amornvivat claimed that the policy aligns with OECD standards, and said it "is another important step in raising the economic potential of [Thailand] and is an opportunity for Thai entrepreneurs to grow on the world stage." This is not the first time the Thai authorities have looked at crypto-related taxation. Back in March the government approved a tax break targeting investors who generated capital gains from holding investment tokens. At that time, it was outlined that the government wanted to incentivize the use of investment tokens for fundraising purposes. In the medium term, Amornvivat believes that these measures will lead to growth in the overall Thai economy and an increase in tax revenue by approximately one billion baht ($30.6 million). Bitkub, Thailand’s largest crypto exchange, didn’t waste any time in responding to the development. On X, it advised its user base that “the wait is over,” with tax-free trading now possible on the platform. Competing global centersAssad Dar, a founder of Dubai-based Web3 gaming startups OYA Play and MoonGaming, took to social media to draw attention to the development in the context of initiatives being taken elsewhere to drive crypto. He described Thailand’s five-year tax break as a “big move,” while considering incentives offered in places like Dubai and Pakistan recently. He added:”Each place is trying to support crypto in its own way.” While competition around the world heats up to attract more crypto-related development and business activity, some fear getting left behind. Indian crypto influencer Rananjay Singh noted this latest development in Thailand while pointing out that crypto market participants in India still have to pay 30% tax on crypto-related capital gains as well as 1% tax deducted at source (TDS). 

Acquisition by SBI Subsidiary Part of European ExpansionB2C2, a cryptocurrency liquidity provider catering to institutional clients and a subsidiary company of Japanese financial services conglomerate SBI Holdings, has solidified its foothold in the digital assets market by completing the acquisition of Woorton, a prominent European market maker and over-the-counter (OTC) transaction specialist.Photo by Christian Lue on UnsplashMarket expansionIn a press release published to its website on Thursday, UK-based B2C2 outlined further details relative to the acquisition. The move represents an effort by B2C2 to broaden its client base and expand within the European market, ahead of the forthcoming regulations under the Markets in Crypto-Assets Regulation (MiCA).The acquisition opens doors for B2C2 to extend its services within the European Union (EU) jurisdiction. Additionally, it allows B2C2 to tap into growth opportunities beyond its existing strongholds in the United Kingdom, Asia-Pacific (APAC), and the United States.Licensing accessOne of the prime advantages of this acquisition is B2C2’s access to Woorton’s prestataires de services sur actifs numériques (PSAN) license, which is regulated by the Autorité des Marchés Financiers (AMF), the French financial regulatory authority. This license empowers B2C2 to operate seamlessly within the EU, positioning the company for a strategic advantage in the evolving regulatory landscape.As the UK is no longer part of the EU, this acquisition makes for a much easier entry point for the company into the broader European market.Founded in 2017, Woorton boasts an active clientele of nearly 250 entities engaged in trading 96 different cryptocurrencies. The company distinguishes itself by offering round-the-clock liquidity provision, ensuring uninterrupted trading opportunities for its clients.Woorton’s engagement with regulatory bodies is a key highlight, and the firm is a co-founding member of the Association for the Development of Crypto-Assets (ADAN). Through ADAN, Woorton actively contributes to shaping regulatory frameworks governing digital assets in France, bridging the gap between the industry and policymakers.Additionally, the company played a crucial role in establishing Paris Blockchain Week, an internationally recognized event that brings together thousands of attendees and speakers to discuss blockchain and digital asset trends.Charlie Meraud, CEO of Woorton, expressed excitement about the acquisition, emphasizing the complementary strengths of the two firms. Meraud highlighted the enhanced liquidity pool and improved market presence that the combined platform would offer to customers, ultimately leading to a superior liquidity and trading experience.B2C2’s CEO, Nicola White, described the acquisition as a significant milestone in the company’s growth journey. White expressed enthusiasm about the potential the acquisition unlocks for B2C2 and its EU-based clients, reaffirming the importance of regulatory standing and a robust client base.London baseEstablished in 2015 and primarily owned by SBI, B2C2 operates from its main headquarters in the UK, with operational offices in the US and Japan. Its UK-registered company B2C2 Ltd serves as the parent entity within the B2C2 group of companies.B2C2’s acquisition of Woorton not only enhances its presence within the European Union but also serves to demonstrate its intent in terms of regulatory compliance and industry leadership. This strategic move positions the company to navigate the evolving crypto market, likely leading to greater opportunities for its clients.